@ridgebackpilot wrote:Forgive the "newbie" here but I'm really stretching to understand all the kudos being heaped on the OP for running up a bunch of credit he never intends to use!
Not trying to take away from anyone's achievement; just trying to comprehend why it's considered so worthy of praise. Whether he's run up $100K, $1M, or $5M really doesn't matter; I don't understand why anyone would go to all the trouble of applying for and managing credit they'll never use.
Is this like collecting cars you never intend to drive, just to enjoy the collection?? Is applying for credit a hobby for some people like collecting stamps?
Here are a couple of "newbie" questions:
1. Is running up huge credit lines something many people here aspire to?
2. Do a lot of people here open multiple versions of the same card, never intending to use them? (I didn't even know that was possible!)
3. Is there a danger that running up an enormous amount of unused credit eventually will cause lenders to tighten the rules, making it more difficult for the rest of us to obtain credit?
4. Is this considered an extreme example of "churning"?
Again, not trying to judge anyone here, just attempting to understand where the OP is coming from and why others are so complimentary... THANKS!
So when the person who doesn't believe in credit at all ask why you have credit because you should be able to pay cadh for everything, what is your answer? It's the same concept. You're over analyzing this. It's simply my choice. It doesn't effect you one bit. We all do things that make sense only to us. Why are you so concerned about praise? None of it makes any sense to me that you're taking an enormous amount of time to understand someone's choice that has no bearing ion you whatsoever. To me that's insane
(Formerly known as: Credit is my hobby (1.6M)/TCL objective)
@ridgebackpilot wrote:Forgive the "newbie" here but I'm really stretching to understand all the kudos being heaped on the OP for running up a bunch of credit he never intends to use!
Not trying to take away from anyone's achievement; just trying to comprehend why it's considered so worthy of praise. Whether he's run up $100K, $1M, or $5M really doesn't matter; I don't understand why anyone would go to all the trouble of applying for and managing credit they'll never use.
Is this like collecting cars you never intend to drive, just to enjoy the collection?? Is applying for credit a hobby for some people like collecting stamps?
Here are a couple of "newbie" questions:
1. Is running up huge credit lines something many people here aspire to?
2. Do a lot of people here open multiple versions of the same card, never intending to use them? (I didn't even know that was possible!)
3. Is there a danger that running up an enormous amount of unused credit eventually will cause lenders to tighten the rules, making it more difficult for the rest of us to obtain credit?
4. Is this considered an extreme example of "churning"?
Again, not trying to judge anyone here, just attempting to understand where the OP is coming from and why others are so complimentary... THANKS!
First up complimentary is in my understanding another important basic premise in which this forum has put together for the support of all it's members.
That is to be complimentary is also SUPPORTIVE 
One thing that really should stand out most IMHO (and does for me anyway) instead of the why and what is much credit purposes (which is personal if you ask me) is T R U S T!
Lenders don't extend greater lines and products just for the sake of extending or everyone in todays generation would be enjoying a burnfest. No way, lenders already been through that and they scrutinize more heavily than ever.
I only hope that most of us forum members can learn to apply themselves with the same serious and concentrated effort that this thread represents IMO to gain that same level of trust.
As far as reasons? That's really none of my business as i see it and couldn't care less if a member wanted to collect all the Comentity Cards that they or any other Prime Banks might see fit to approve them with, but if it works for them, (and they get to keep them long term), who am i to question either the Lender or the Customer when my own profile is what's most important.
The only so called danger (if any) can be to only the cardholder themself (doesn't affect "the rest of us" in the least or ever will), (only defaulters), and that is a very tall order for some to manage and requires some heavy dedicated efforts (obviously) to keep your lender's trust and ideal attention that you are handling ALL your credit to complete expectations.
Hope that helps explain somewhat from one point of view anyway
Lol, well said CM7, ill just say this forum is a great source of information and in it we all should try and usually do support it each other. Everyones goals and lives are different. When i was younger id pay $100 bucks for a pair of sneakers without flinching but now that im older, not so much . Just goes to show we all crave different things.
Great point by CM7 in that you dont get credit cards and limits without some work. Banks can take them away as fast as you get them so seeing someone able to get a credit card and maintain it and grow them helps many of us who desire to do so. Also many of us have made many credit mistakes at the begining of our journey so sometimes seeing others success stories inspires us in ways only the individual can surmise. Lol, if 12's million dollar collection can bring down all of chances for further credit, i think the banks are in bigger trouble than we know
Great point by CM7 in that you dont get credit cards and limits without some work. Banks can take them away as fast as you get them so seeing someone able to get a credit card and maintain it and grow them helps many of us who desire to do so. Also many of us have made many credit mistakes at the begining of our journey so sometimes seeing others success stories inspires us in ways only the individual can surmise. Lol, if 12's million dollar collection can bring down all of chances for further credit, i think the banks are in bigger trouble than we know
@AverageJoesCredit wrote:
Lol, well said CM7, ill just say this forum is a great source of information and in it we all should try and usually do support it each other. Everyones goals and lives are different. When i was younger id pay $100 bucks for a pair of sneakers without flinching but now that im older, not so much . Just goes to show we all crave different things.
Great point by CM7 in that you dont get credit cards and limits without some work. Banks can take them away as fast as you get them so seeing someone able to get a credit card and maintain it and grow them helps many of us who desire to do so. Also many of us have made many credit mistakes at the begining of our journey so sometimes seeing others success stories inspires us in ways only the individual can surmise. Lol, if 12's million dollar collection can bring down all of chances for further credit, i think the banks are in bigger trouble than we know
Well said both of you. The Good, the Bad and the Ugly. I didn't realize that I or a collection of us here could bring down the financial industry lol. I'll never understand why someone continues to question or understand someone's motives, especially when it has no direct correlation to them. I certainly understand where one might say why did you do that, but at the end of the day if it was personal choice, end of discussion. We all make decisions and/or mistakes and hopefully we learn from them. There is no way in heck that I'm going to use all this credit, but it is something that I wanted to see if I could achieve. I've said it before and I guess I'll say it again: One size doesn't fit all.
@Anonymous wrote:The movie "up in the air" main characters goal was to get I think a million travel miles and enjoy the perks. There is nothing wrong with doing this simply for the sport of it and accomplishing it. As others have said, trust from the creditors and proving that one can handle it is in itself huge.
Plus, 12 is a member of our community, and as fellow community members, we support one another even if our goals are different.
We try our best here to build each other up, not tear each other down, and that is one of the strengths of our community.
12 has done a lot of work to accomplish what he has and many of us have journeyed along with him and seen his struggles, successes, and valuable information he has shared along the way.
Nice work, 12.
@Anonymous wrote:
@Anonymous wrote:The movie "up in the air" main characters goal was to get I think a million travel miles and enjoy the perks. There is nothing wrong with doing this simply for the sport of it and accomplishing it. As others have said, trust from the creditors and proving that one can handle it is in itself huge.
Plus, 12 is a member of our community, and as fellow community members, we support one another even if our goals are different.
We try our best here to build each other up, not tear each other down, and that is one of the strengths of our community.
12 has done a lot of work to accomplish what he has and many of us have journeyed along with him and seen his struggles, successes, and valuable information he has shared along the way.
Nice work, 12.
Thanks hum. Always appreciate the support.